UK Mortgages - Equity Release Mortgage

If you have paid of your mortgage, you are in a great position to release equity. The mortgage is secured on your property but that doesnt mean you have to move out, so you are able to enjoy the equity released from your home for yourself familly or friends.

Home Equity Release Mortgage plan features

Simply, you sell your house (at a reduced rate) and you get to live in it as long as you wish. the younger you are however the smaller the percentage of equity will be released as little as 20% for 60-65 year olds

Lenders

Be careful if you are in need of money you may find yourself tied into a bad deal, always seek professional advice

What is Equity?

If you are over 60 and maybe retired raising finances can be difficult especially if you are retired, the only real investment you have is your "bricks & mortar". This can be a viable way of raising fund for maybe a once in a lifetime holiday, a conservatory or maybe you just wish to help out some relatives, whatever your reason it is possible to release this equity from your home.

Home equity release plans

Interest only equity release mortgages with no monthly payments, no term, the interest rolls up until the loan is repaid.

Standard equity release mortgages with a term of say 30 years and interest payable monthly so the loan does not increase.